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Kapital Bank raises yield on dollar deposits

02 April 2009 16:25 (UTC +04:00)

Baku. Elnur Huseynguliyev â€“ APA-Economics. Azerbaijan-based Kapital Bank has increased interests offered on dollar deposits titled â€œTerm Depositâ€, â€œVIPâ€, Pensionerâ€, â€œFamily Savingâ€, â€œChild Savingâ€ and â€œTerm Optionalâ€. The interests on dollar deposits are equal to those of home-currency deposits now, said the bank.
The decision was taken by a board meeting on March 17.
Kapital Bank is the oldest bank of Azerbaijan, established through the merger of three state-owned banks â€“ Agrarian Industry Bank, Industry-Investment Bank and Savings Bank.
As at January 1, Azerbaijan-based Kapital Bankâ€™s assets stood at AZN 577.590 million, loan portfolio at AZN 365.847 million, deposit portfolio at AZN 481.974 million, total capital at AZN 71.910 million and authorized capital at AZN 24 million.
Kapital Bank has been in operation since 2000. The bank operates 89 branches, 298 ATMs and 469 POS terminals at present.
After privatization, Kapital Bank is owned by AtaHolding (30%), Pasha Holding (30%), Khalg Sighorta (15%), Azersun Holding (10%), individuals (10%) and the bank staff (5%).